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Stocks continued to selloff Monday amid light volume as confidence about the economy weakened and investors remained cautious ahead of several key reports coming up this week. Bank of America and Intel fell, while H&P rose.

Netflix shares have gained a whopping 185 percent over the past 12 months, but the stock is off from its all-time high it hit recently, now facing analyst downgrades and a slew of changes to the media landscape.

Today's news that Google is partnering with DirecTV to sell ads for cable networks could have far-reaching implications for Google and the ad business. This could be a win-win-win for Google, DirecTV, as well as advertisers, and it has the potential to shake up Madison Avenue.

CBS stock rose 3.5 percent Monday, a day ahead of its quarterly earnings, which are expected to be higher on rebounding ad spending. But that isn't the only good news for CBS: the company has announced that it struck a 10 year retransmission agreement with Comcast, to distribute CBS network, local stations, College Sports TV, Showtime and the Smithsonian channel.

The message from media and tech companies is clear: advertising is back in a big way. This week both Sir Martin Sorrell, CEO of WPP and Disney CEO Bob Iger told CNBC that the ad market has improved from last year and continues to improve. We've seen that demonstrated in results from a diverse group of industry players, from tech giants to newspapers.

Everyone got out of hand with too much leverage a few years ago. Now in deal making, the media banker said, "we are giving companies enough leverage to actually transact in sectors—sometimes with leverage ratios that are higher than if they traded in that same sector."

The cable company reported an 8.6 percent drop in second-quarter earnings Wednesday partly because of costs related to its pending takeover of NBC Universal, yet it saw improvements in advertising and demand for pricier television services.

Forced to tighten their belts during the worst economic downturn since the Great Depression, consumers realized they weren't missing much. Recent research from Deloitte reinforces the idea that manufacturers are selling their products to a new type of consumer.

Cable companies and content providers have repeatedly battled over fees, with channels getting temporarily yanked from the air during negotiations. Today 31 video distributors are partnering to form the "American Television Alliance," to address the rules governing broadcast signals and the threat of blackouts. The group says it aims to "protect consumers in today's changing TV environment" — to keep their favorite shows from being collateral damage of negotiations, as when Disney pulled ABC off Cablevision's air right before the Oscars.

The Federal Communications Commission has restarted its review of Comcast's plan to take control of NBC Universal after the companies provided the agency with additional details about their businesses.